Kim Moonsoo: "Tax Benefits for Long-Term Stockholders... Will Overcome 'Boxpi' Stigma"

Pledges Include Allowing Venture Investments with Retirement Pensions
and Establishing a Financial Advisory Committee

On May 22, Kim Moonsoo, the presidential candidate of the People Power Party, pledged to revitalize the capital market by allowing venture investments with retirement pensions and applying differentiated tax rates for long-term stockholders.

That morning, at the Korea Exchange in Yeouido, Seoul, Kim held an on-site meeting of the Central Election Countermeasures Committee and stated, "I will become a sales president who leads global investment," announcing these plans.

First, Kim said that, as president, he would personally conduct investor relations (IR) sessions for overseas investors to attract foreign investment.

Yonhap News Agency

Additionally, he promised to establish a Financial Advisory Committee, centered around the so-called 'F4'?the Deputy Prime Minister for Economic Affairs, the Governor of the Bank of Korea, the Chairman of the Financial Services Commission, and the Governor of the Financial Supervisory Service?along with private sector experts, in order to enhance the credibility of financial policy.

As a measure to invigorate the stock market, Kim proposed tax benefits for long-term investors. For those who hold stocks for more than one year and have annual financial income of 20 million won or less, the withholding tax rate on dividends will be differentiated according to the investment period.

He also announced a plan to attract foreign capital by seeking inclusion in the Morgan Stanley Capital International (MSCI) Index during his term, through institutional reforms that meet global standards.

Kim added, "We will introduce a Corporate Growth Collective Investment Scheme to allow venture investments with retirement pensions, and provide bold tax incentives such as income deductions for angel investors."

To restore investor confidence, Kim pledged to impose punitive fines for unfair trading and accounting fraud. He also plans to restrict economic criminals from participating in the stock market, while strengthening market surveillance and specialized investigations of illegal activities.

In addition, his pledges include: ▲ granting existing shareholders priority rights to new shares in the event of a physical spin-off ▲ introducing a mandatory tender offer system in the event of a change in management control ▲ making electronic general meetings of shareholders mandatory and extending the notice period for convening general meetings.

Kim emphasized, "While policy uncertainty and geopolitical risks are fixed variables, I will address the various causes of undervaluation in our companies and capital market," and added, "I will create a stable trading environment so that Korea's capital market can shed its 'Boxpi' stigma and become a true ladder of opportunity."